Mazumdar-Shaw Proposes Emergency Use Medicine as Biocon Readies Itolizumab

July 14, 2020July 14, 2020

Biocon Chairperson Kiran Mazumdar-Shaw proposed an emergency use drug for Covid-19 treatment. The drug named Itolizumab was approved for emergency use after it was tested on 30 patients. This is great news as India has risen to the third position in worldwide COVID cases. The hospitals in India so far were adapting existing drugs to treat mild to extreme COVID cases, while they wait for new drugs to counteract the pandemic was on.
Most of the hospitals designated for COVID care have been using drugs that are non-proven treatments; most of these drugs have been used to manage the symptoms or for emergency care. One of the most popular ones is the drug Hydroxychloroquine which is used for treating mild cases and acts as a prophylactic. Remdesivir is another drug which has been employed to treat the Ebola virus earlier. This drug is being used under medical supervision in form injection in designated hospitals. Biocon has proposed that a 25mg/5mL injection of Itolizumab should be used to treat acute respiratory distress syndrome (ARDS) on account of COVID-19. With Rs 7,950 per vial and a typical patient requiring 4 vials, the drug is quite cost-effective for COVID treatment.
Biocon’s approval of Itolizumab has paved the way for other companies to research and reuse existing drugs for COVID treatment. This would be good news for the country.

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German Retail Sales Climb, But Import Costs Weigh on Outlook

Dhruva KulkarniMarch 31, 2025March 31, 2025

March 31, 2025March 31, 2025

German retail sales rose 0.8% in February, surpassing analyst expectations of 0.2%, but increasing import prices pose inflation risks that could impact consumer spending.

Economists remain cautious, citing weak consumer sentiment. Chief economist Alexander Krueger noted that growing job concerns are limiting spending. Unemployment increased by 26,000 in March to 2.92 million, nearing the 3 million mark for the first time in a decade.

Import prices jumped 3.6% year-over-year in February, the highest in over two years, driven by food costs. As Germany imports many raw materials, these higher costs could push inflation up.

March inflation data, set for release on Monday, is expected to drop slightly to 2.4% from 2.6% in February.

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Xi Jinping Meets Global CEOs Amid Slowing Investment

Dhruva KulkarniMarch 28, 2025March 28, 2025

March 28, 2025March 28, 2025

Chinese President Xi Jinping met with global CEOs in Beijing to attract foreign investment and support China’s slowing economy amid geopolitical tensions.

Beijing faces challenges reassuring investors about its $18 trillion economy, with concerns over strict regulations, crackdowns on foreign firms, and a business environment favouring state-owned companies.

Xi thanked foreign enterprises for contributing to trade, industry, tax revenue, and job creation. Around 40 executives, mostly from the pharmaceutical sector, attended the meeting as China seeks to reverse a sharp 27.1% drop in foreign direct investment (FDI) in 2024—the steepest decline since the 2008 financial crisis.

He emphasised the role of multinational corporations in stabilising the global economy and urged them to support economic cooperation. The meeting followed the China Development Forum, where Premier Li Qiang called for open markets amid rising global uncertainty.

Xi has also engaged domestic businesses, including a rare meeting with China’s top tech leaders last month, signalling efforts to restore economic confidence.

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Putin Accepts Modi’s Invite to India, Preparations Begin

Dhruva KulkarniMarch 27, 2025March 27, 2025

March 27, 2025March 27, 2025

Russian President Vladimir Putin has accepted Prime Minister Narendra Modi’s invitation to visit India, with preparations underway, Russian Foreign Minister Sergey Lavrov announced on 27th March.

Speaking at the ‘Russia and India: Toward a New Bilateral Agenda’ conference, Lavrov confirmed that arrangements for the visit are in progress but did not disclose the dates.

He noted that Modi’s first foreign visit after his re-election in 2024 was to Russia, adding, “Now it’s our turn.” Modi last visited Russia in July 2024 after nearly five years.

On 24th March, Lavrov stated that Russia is developing a “privileged strategic partnership” with India while expanding ties with China, Iran, North Korea, and CIS nations.

In January, Putin emphasised Russia-India relations as a “special and privileged strategic partnership” in his Republic Day message to India.

Modi and Putin maintain regular communication, speaking over the phone every few months and meeting in person during international events.

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Canada Spy Agency Warns of India, China Meddling in Election on 28th April

Dhruva KulkarniMarch 26, 2025March 26, 2025

March 26, 2025March 26, 2025

Canada’s intelligence agency, CSIS, has warned that India and China are likely to interfere in the 28th April election, with Russia and Pakistan also posing potential threats.

The report comes amid strained Canada-India and Canada-China relations, with both nations denying the allegations. CSIS found evidence of foreign interference in the 2019 and 2021 elections but stated that the outcomes were not affected, noting Canada’s slow response.

Deputy Director Vanessa Lloyd warned that China will likely use AI-enabled tools to influence the upcoming election.

Tensions between Canada and India worsened last year after Canada accused India of an assassination plot against a Sikh separatist, leading to diplomatic expulsions.

CSIS continues to monitor foreign interference threats, emphasising the need to safeguard democratic processes and maintain public trust.

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Trump Announces 25% Additional Tariff on Venezuela Trade

Ali WaghbakriwalaMarch 25, 2025

March 25, 2025

US President Donald Trump announced new tariffs targeting nations purchasing oil and gas from Venezuela.

On 24 March, Trump declared that the US would impose an additional 25% tariff from 2 April on countries importing oil from Venezuela, impacting both direct and indirect buyers.

“Venezuela has been very hostile to the United States and the freedoms we uphold. Any country purchasing oil or gas from Venezuela will have to pay a 25% tariff to the US on any trade they conduct with us,” Trump stated on Truth Social.

This new “secondary tariff” will be added to the existing duties, further tightening economic pressure on Venezuela.

In his announcement, Trump claimed that Venezuela has been deliberately sending criminals to the US, which he cited as one of the “numerous reasons” for imposing the tariff.

The decision, which could further destabilize global trade, is also expected to affect major importers like China, possibly disrupting supply chains.

Since his return to the White House in January, Trump has actively imposed tariffs on both US allies and rivals, using trade policies as leverage for economic and diplomatic negotiations.

The final decision on implementing the new levy will be determined by the US Secretary of State in consultation with other government agencies.

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